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Directors loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 September 2014 sir,
I am an director of private limited co

can i take loan from my private ltd co and if yes do i have to pay intrest to the company please reply
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CA SUNIL K GARG

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CA SUNIL K GARG (Expert)
02 September 2014 pls refer to sec 185 of companies act 2013, which prohibits loan to director with certain restriction. moreover if directors holds more 10% of equity shares than it will be deemed dividend u/s 2 (22) e

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